Public sector lender, Syndicate Bank has lowered interest rate on its savings bank account to 3.50 per cent in line with the market competition. Now, deposits of up to Rs. 25 lakh will pay a 3.50 per cent interest rate, down from 4 per cent charged. Interest rate on deposits above Rs. 25 lakh remains unchanged at 4 per cent. The revised rates will be effective from October 10, 2017.

2017-09-12 :Syndicate Bank revises MCLR rates

Syndicate Bank has reduced its marginal cost based lending rate across all tenors. For overnight and one month maturities, the rate has been revised to 8 per cent, while for three month and six month maturities the rate has been reduced to 8.10 per cent and 8.25 respectively.

2017-09-05 :Syndicate Bank launches loan campaign in Kolkata

Syndicate Bank has recently launched a home loan and MSME campaign in Kolkata at its bank branch located at Rajarhat. The campaign is organized to bring awareness to the general public about various products including housing loan, education loan, Vehicle loan, Gold loan and Business loan.

2017-09-04 :Syndicate Bank opens 40 ‘Ananya’ branches syndicate bank

Syndicate Bank has recently inaugurated its 40 ‘Ananya’ transformed branches. Under the arrangement, the bank aims to provide best customer service to its bank customers in terms of loans including personal loans, home loans and jewel loans, deposits as well as accounts. Meanwhile, the bank has also announced the launch of its first micro, small and medium enterprise (MSME) hub in Bengaluru which will help the bank to reduce turnaround time of the loan sanctioning process.

Syndicate Bank is planning to focus on improving its asset quality in FY18. Simultaneously, the bank aims to bring down gross non-performing assets (NPAs) to 8.75 per cent. Besides improving its asset quality, the bank would also focus on mobilising its CASA deposits and growing its advances to the retail, agriculture and MSME sectors.

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